Health care stocks were trading lower premarket Monday. The Health Care SPDR (XLV) was declining by 0.17% and the iShares NASDAQ Biotechnology Index (IBB) was recently slipping by 0.50%.
Viatris Inc. (VTRS) was down more than 10% after saying it expects a net loss of $100 million to $300 million and revenue of $17.2 billion to $17.8 billion for full-year 2021. Analysts polled by Capital IQ projected revenue of $18.42 billion for the year.
Otonomy (OTIC) was plunging more than 50% after the company said the phase 3 clinical trial of Otividex in patients with Meniere’s disease did not achieve its primary endpoint.
Celsion (CLSN) was surging past 77% after the company said the US Food and Drug Administration granted fast-track status for GEN-1, the biotech firm’s immunotherapy to treat ovarian cancer.
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